The cost of motoring continues to be a significant expense for drivers up and down the country.
While rising inflation has been eating away at disposable incomes, driving has been one area where many people have started to look for savings. But the motoring industry has not been immune to price hikes itself.
The cost of fuel, insurance, repairs and parts have all increased in the last few years making driving and car ownership less affordable than ever before.
What are the best ways to save on motoring?
Optimise your fuel economy
The price of petrol and diesel has risen sharply since the decline seen at the start of the pandemic.
Prices peaked at over 190 pence per litre of unleaded in 2022 following Russia’s invasion of Ukraine and other factors, but the price has come back down since the start of 2023.
Finding ways to optimise your fuel efficiency is an effective way to save money. You can do this by monitoring your driving style and making adjustments such as reducing excessive speeds and avoiding harsh periods of acceleration and braking.
Try to reduce your reliance on driving when it’s not essential. Walking, cycling and public transport can help you to save significant amounts and are good for the environment.
Find the best insurance deals
Insurance costs have increased too, by as much as 20% in the last 18 months.
Comparing insurance quotes and providers can help to achieve huge savings on your annual premiums. Try comparison sites and source some quotes directly to see who can give you the best deal.
If you’ve invested in a new car recently, it may be a good idea to invest in gap insurance to protect you financially should you get into an accident and your vehicle is written off. This can cover the cost between what your vehicle is worth now and the cost you paid for it upfront.
Stay on top of maintenance
Repairs have become more expensive because the cost of parts and inflation have forced garages to put their prices up. Maintaining your car properly is an important step to reduce the likelihood of breakdowns and faults.
Servicing may seem like an extra cost, but it can help to keep your car in better condition for longer. Bring your car in for a service at least once a year and stay on top of DIY maintenance such as checking fluid levels and tyre pressures.
Savings are there to be made if you’re willing to put the effort in. How are finding the cost of motoring?
